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Commerce Past Questions

Study and practice Commerce past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.

1,707 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

1,707 questions
All JAMB WAEC NECO CUSTOM
All years 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989
Question 1 of 20 1,707 total questions
Question 721
jamb 2000
The insurance principle that requires full disclosure of information on the insured is known as
Aindemnity
Buberrimae fidei
Csubrogation
Dcaveat emptor
View Explanation & Discuss
Question 722
jamb 2000
Tourists with no fixed address in a town may receive their letters from the post office through a
Arecorded delivery
Bposte restante
Cparcel post
Dpostmaster
View Explanation & Discuss
Question 723
jamb 2000
Ocean liners are subdivided into
Apassenger liner and cargo liners
Bcoastel liners and cargo liners
Ccargo liners and tramp liners
Dpassenger liners and tramp liners
View Explanation & Discuss
Question 724
jamb 2000
An invoice can be described as a
Acontractual agreement for the sale of goods
Bdocument specifying quantity, description, prices and total value of purchase
Creceipt containing necessary information about the goods
Dletter specifying the contractual sales of goods between two parties
View Explanation & Discuss
Question 725
jamb 2000

The function of a merchant wholesaler is to

Abuy in bulk, store and sell to retailerss as desired
Bposses title to the goods, store and sale to retailers
Cbring buyers and sellers together
Dfind markets for producers' finished goods
View Explanation & Discuss
Question 726
jamb 2000

The current trend in retailing competition in Nigeria are?

Aadvertising and sales promotion strategies
Bbranding, enterprising and diffrentiation of goods and services
Cself-service, after-sales service and services and branding strategies
Dafter-sales services and sales promotion strategies
View Explanation & Discuss
Question 727
jamb 2000
The main factors militating against the rapid growth of trade in Nigeria are?
Ainadequate transportation network and huge capital outlay
Black of motivation and government attitude towards trade
Clacks of good transportation network and insecurity of investment
Dhuge capital outlay and government attitude to trade
View Explanation & Discuss
Question 728
jamb 2000
The share capital value that forms part of the balance sheet total is the
Apaid-up share capital
Bcalled-up share capital
Cauthorized share capital
Dissued share capital
View Explanation & Discuss
Question 729
jamb 2000
Determined the circulating capital?
AN250,000
BN245,000
CN235,000
DN225,000
View Explanation & Discuss
Question 730
jamb 2000
Use the information below to answer question

What is the total fixed capital?
AN 570,000
BN 570,000
CN 575,000
DN 675,000
View Explanation & Discuss
Question 731
jamb 2000

Bank overdraft as a short term source of fund is

Aan overdrawn account
Bgranted to a newly opened account
Crepayable after more than a year
Da current liability
View Explanation & Discuss
Question 732
jamb 2000

On liquidation of a public limited liability company, the residual owners are the

Acreditors
Bordinary shareholders
Cpreference shareholders
Ddebenture holders
View Explanation & Discuss
Question 733
jamb 2000
Government policies relating to the establishment and operation of business are targeted at
Aincreasing the profit of business owners
Bthe general improvement of the economy
Ceven spread of facilities and employment
Ddiversification and expansion of business
View Explanation & Discuss
Question 734
jamb 2000
The measure of independence available to the individual business unit that come together is the main different between
Averitcal and horizontal integration
Bmergers and acquisition
Cconsortium and almalgamation
Dtrust and cartel
View Explanation & Discuss
Question 735
jamb 2000
Which of these is both merit and demerit in partnership?
AThe number of partners
BIt unlimited nature
CThe bearing of risk
DThe withdrawal of a major partner
View Explanation & Discuss
Question 736
jamb 2000
The term Plc implies that the are available
Ato the public at the company
Bprivately on the stock exchange
Cpublicly on the stock exchange
Dpublicly in commericial banks
View Explanation & Discuss
Question 737
jamb 2000
The application of division of labour should generally bring about
Aincrease in the quantity of goods and service
Bincrease in the variety of goods and services
Ccheapness of goods and services
Dcost efficiency in the production of goods and services
View Explanation & Discuss
Question 738
jamb 2000

Product involves

Amaking goods avaiable where and when needed
Bchanging the form of goods, moving and making them avaiable as needed
Cthe manufacturing of goods and provision of services
Dthe assembling of all necessary parts to produce a finished product
View Explanation & Discuss
Question 739
jamb 2000
The major factors that facilitate merchandising are
Acommuincation , advertising and banking
Btrading, warehousing and production
Cmanagement, insurance, and advertising
Dbanking, insurance and transportation
View Explanation & Discuss
Question 740
jamb 1999
The proposed monetary integration within ECOWAS sub-region has the overriding benefit of a
Aimproved exchange
Benhanced trade
Cenhance development
Dimproved relations
View Explanation & Discuss
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